Filing Flows › Blue Dolphin Energy (BDCO) › Q2 2026 › vs Q1 2026
Blue Dolphin Energy (BDCO) Q2 2026 vs Q1 2026 (quarter over quarter)
Blue Dolphin Energy's revenue rose $62.8M (+77%) from $81.5M in Q1 2026 to $144M in Q2 2026. The biggest changes: Refinery Operations +$62.8M (+78%); Tolling and Terminaling +$0 (0%). Operating margin 16.4% against 24.5% (-8.0 pts).
Blue Dolphin Energy, Q2 2026: revenue $144M (+155% year over year), operating margin 16.4%, net earnings $17.7M, operating cash flow $38.2M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 16.4% | 24.5% | -8.0 pts |
| Net margin | 12.3% | 18.1% | -5.8 pts |
| Free cash flow margin | 26.4% | 1.0% | +25.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Refinery Operations | $143M | $80.7M | $62.8M | +78% |
| Tolling and Terminaling | $765K | $765K | $0 | 0% |
| Revenue | $144M | $81.5M | $62.8M | +77% |
| Operating profit | $23.7M | $19.9M | $3.8M | +19% |
| Costs & expenses | $121M | $61.5M | $59.0M | +96% |
| Pre-tax earnings | $22.6M | $18.6M | $4.0M | +22% |
| Other expense, net | $1.1M | $1.4M | −$259K | -19% |
| Net earnings | $17.7M | $14.7M | $3.0M | +20% |
| Income tax | $4.9M | $3.8M | $1.0M | +27% |
| Depreciation & amortization | $720K | $719K | $1K | +0.1% |
| Working capital & other | $19.7M | −$14.6M | $34.4M | — |
| Operating cash flow | $38.2M | $831K | $37.4M | 46× |
| Free cash flow (OCF − capex) | $38.1M | $820K | $37.3M | 46× |
| Capital expenditures | $121K | $11K | $110K | 11× |
Questions
How much did Blue Dolphin Energy's revenue grow quarter over quarter in Q2 2026?
Blue Dolphin Energy's revenue rose $62.8M (+77%) from $81.5M in Q1 2026 to $144M in Q2 2026.
What drove Blue Dolphin Energy's revenue change in Q2 2026?
Refinery Operations +$62.8M (+78%); Tolling and Terminaling +$0 (0%).